Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Cullinan Management. The associated price target remains the same with $34.00.
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Soumit Roy’s rating is based on several promising developments within Cullinan Management’s pipeline. The company is advancing its CD19 targeting T-cell engager (CLN-978) through Phase 1 trials for systemic lupus erythematosus and rheumatoid arthritis, with initial data expected in the first half of 2026. This progress highlights the potential for CLN-978 to address significant unmet medical needs, particularly given the observed rapid and sustained B cell depletion in earlier studies.
Additionally, Cullinan’s collaboration with Taiho for the Zipalertinib program in EGFR ex20ins NSCLC is another key factor. With a positive pre-NDA meeting with the FDA, there is an expectation of a New Drug Application filing by the end of 2025. This program could lead to substantial milestone payments for Cullinan, enhancing its financial position and supporting further development efforts. These strategic initiatives underpin the Buy rating, reflecting confidence in Cullinan’s ability to deliver value through its innovative therapeutic candidates.
In another report released on November 6, H.C. Wainwright also reiterated a Buy rating on the stock with a $24.00 price target.